Buying Highlands Luxury Real Estate, Appraisal

The appraisal is a step in the process of buying Highlands luxury real estate, as it is with most real estate transactions. Appraisals are rarely left out of the contractual process as they serve as an insurance of sorts for the buyer. A buyer understandably would like to make sure that he is paying fair market value for a home. The problem with an appraisal occurs when the value comes in at less than the contracted price for a Highlands property.

A low appraisal is a problem when it comes to a mortgage because a lender will typically only lend on what he sees as the true value for a home. While a Highlands home is truly only worth what someone is willing to pay a buyer can only borrow what a lender is willing to lend. When an appraisal come in low a buyer is faced with two choices: to walk away from the deal or accept and pay the difference. Appraisals tend to come in lower more frequently for luxury homes because there are fewer comparisons available.

Contact us today to learn more about buying Highlands luxury homes. There are some fantastic properties currently listed for sale and we can help recommend reputable lenders familiar with our area. our goal is to help our clients achieve success with their real estate transactions.

Click here to read “The Appraisal Betrayal” from the Wall Street Journal.

About the Author
BERKSHIRE HATHAWAY HOMESERVICES MEADOWS MOUNTAIN REALTY has been serving the Highlands NC and Cashiers NC areas offering exclusive mountain real estate and country club properties since 2003.

We recognize that there are many important aspects to consider in making a real estate choice. With that in mind, we listen closely to the needs and desires of each individual customer and work diligently to find the ideal mountain property or to sell your property as efficiently and effectively as possible. However, our job does not stop there.

Once you have made your real estate decisions, we are here to help you in any way that we can. It will be our pleasure to familiarize you with all aspects of the Highlands and Cashiers communities, including home, professional and personal services as well as activities, restaurants, health care and shopping. We will go the extra mile to ensure that your experience in the mountains exceeds your expectations.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.